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Economy of Maldives vs Uganda compared: GDP & Debt

Updated on by Georank team

Maldives has a GDP of $7.06B compared to $53.9B for Uganda, ranking 159/197 and 89/197 by economy size, respectively.

Maldives has $9.41B in government debt (133.3% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Maldives vs Uganda GDP by year

Maldives
Uganda
1x
Year GDP, current $
Maldives Uganda
2024 $7,061,608,267 $53,911,907,086
2023 $6,621,008,704 $48,768,955,863
2022 $6,177,123,352 $45,565,333,211
2021 $5,252,457,370 $40,529,788,749
2020 $3,712,604,583 $37,600,368,242
2019 $5,726,094,799 $35,353,061,003
2018 $5,404,344,163 $32,927,025,620
2017 $4,816,426,257 $30,744,473,841
2016 $4,409,942,624 $29,203,988,696
2015 $4,129,505,319 $32,387,183,730
2014 $3,697,353,039 $32,612,397,257
2013 $3,295,009,238 $28,915,786,517
2012 $2,886,163,997 $27,305,915,911
2011 $2,774,350,240 $27,871,725,241
2010 $2,588,176,055 $26,673,441,431
2009 $2,345,294,875 $25,127,805,567
2008 $2,271,646,188 $14,440,404,132
2007 $1,868,383,461 $11,902,564,495
2006 $1,575,200,391 $9,977,647,683
2005 $1,163,362,438 $9,239,221,763
2004 $1,226,829,563 $7,939,487,548
2003 $1,052,121,055 $6,606,884,275
2002 $897,031,250 $6,178,563,591
2001 $870,031,677 $5,840,503,869
2000 $624,337,145 $6,193,246,837
1999 $589,239,754 $5,998,563,258
1998 $540,096,398 $6,584,815,847
1997 $508,223,602 $6,269,333,313
1996 $450,382,328 $6,044,585,327
1995 $398,988,955 $5,755,818,842
1994 $356,014,932 $3,990,430,447
1993 $322,417,837 $3,220,439,044
1992 $284,875,809 $2,857,457,762
1991 $244,396,762 $3,321,729,160
1990 $215,043,970 $4,304,399,310
1989 $189,514,434 $5,276,480,799
1988 $168,514,513 $6,508,931,652
1987 $141,223,029 $6,269,522,042
1986 $141,882,254 $3,923,244,050
1985 $127,190,758 $3,519,695,444
1984 $109,503,546 $3,615,647,477
1983 $57,829,787 $2,240,333,333
1982 $47,911,340 $2,177,500,000
1981 $44,781,457 $1,337,300,000
1980 $42,463,576 $1,244,610,000
1979 $38,523,364 $2,139,025,000
1978 $24,369,109 $2,420,260,870
1977 $20,853,789 $2,936,470,588
1976 $22,399,467 $2,447,300,000
1975 $24,540,878 $2,359,555,556
1974 $39,120,171 $2,098,944,967
1973 $30,862,042 $1,701,829,789
1972 $25,177,138 $1,490,970,181
1971 $21,566,404 $1,417,191,656
1970 $19,328,038 $1,259,554,809
1969 - $1,168,556,629
1968 - $1,037,379,252
1967 - $967,240,655
1966 - $925,381,492
1965 - $884,502,310
1964 - $589,247,687
1963 - $516,315,231
1962 - $449,158,233
1961 - $441,667,335
1960 - $423,145,605

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/maldives/uganda | CC BY

GDP per capita in Maldives vs Uganda by year

Maldives
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Maldives Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,379 $26,183 $1,078 $3,273
2023 $12,588 $24,786 $1,002 $3,098
2022 $11,786 $22,881 $963 $2,919
2021 $10,176 $19,053 $883 $2,685
2020 $7,394 $13,425 $846 $2,532
2019 $11,740 $23,077 $822 $2,441
2018 $11,423 $21,899 $792 $2,312
2017 $10,510 $19,768 $765 $2,158
2016 $9,948 $18,770 $753 $2,165
2015 $9,645 $17,875 $863 $2,190
2014 $8,939 $16,723 $896 $2,134
2013 $8,236 $15,264 $818 $2,045
2012 $7,461 $13,989 $795 $2,032
2011 $7,425 $13,726 $836 $2,268
2010 $7,174 $12,797 $823 $2,092
2009 $6,734 $12,266 $799 $2,015
2008 $6,757 $13,779 $473 $1,931
2007 $5,758 $12,852 $401 $1,795
2006 $5,019 $12,075 $347 $1,660
2005 $3,797 $9,704 $330 $1,497
2004 $4,070 $10,770 $292.4 $1,405
2003 $3,549 $10,065 $250.7 $1,320
2002 $3,076 $8,823 $242 $1,255
2001 $3,034 $8,236 $236 $1,173
2000 $2,214 $8,526 $258.1 $1,124
1999 $2,124 $8,162 $257.9 $1,100
1998 $1,980 $7,710 $292.5 $1,037
1997 $1,898 $7,226 $286.8 $1,007
1996 $1,717 $6,687 $284.7 $969
1995 $1,555 $6,223 $278.5 $897
1994 $1,419 $5,520 $198.4 $809
1993 $1,317 $5,138 $165.6 $770
1992 $1,194 $4,881 $152.1 $719
1991 $1,054 $4,604 $183 $703
1990 $957 $4,528 $245 $666
1989 $870 - $310 -
1988 $799 - $395 -
1987 $692 - $393 -
1986 $720 - $253.6 -
1985 $669 - $234.3 -
1984 $594 - $247.5 -
1983 $323 - $157.5 -
1982 $274.8 - $157 -
1981 $264.1 - $98.6 -
1980 $257.6 - $93.8 -
1979 $240.2 - $164.5 -
1978 $156.1 - $190.7 -
1977 $137.3 - $237.6 -
1976 $151.8 - $203.3 -
1975 $171.4 - $201.2 -
1974 $281.5 - $183.7 -
1973 $228.7 - $152.7 -
1972 $192.2 - $137 -
1971 $169.8 - $133.5 -
1970 $156.9 - $122 -
1969 - - $116.7 -
1968 - - $106.9 -
1967 - - $102.8 -
1966 - - $101.4 -
1965 - - $100 -
1964 - - $68.6 -
1963 - - $62 -
1962 - - $55.5 -
1961 - - $56.2 -
1960 - - $55.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/maldives/uganda | CC BY

Maldives' GDP per capita is $13,379, ranking 75/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), Maldives ranks 81st at $26,183, while Uganda ranks 176th at $3,273.

Economic indicators

Maldives Uganda
Gross domestic product
$7.06B
2024
$53.9B
2024
GDP rank
159/197
2024
89/197
2024
GDP growth
3.49%
2023-2024
6.06%
2023-2024
GDP per capita
$13,379
2024
$1,078
2024
GDP per capita rank
75/197
2024
176/197
2024
GDP per capita, PPP
$26,183
2024
$3,273
2024
GDP per capita PPP rank
81/197
2024
176/197
2024
Government debt
$9.41B
2024
$27.8B
2024
Debt-to-GDP ratio
133.3%
2024
51.5%
2024
Government debt per person
$17,837
2024
$555
2024
Government debt per person rank
35/185
2024
163/185
2024
Average annual personal income after taxes
$9,909
2026
$1,466
2026
Income share by richest 10%
23.3%
2019
34.5%
2019
Income share by poorest 10%
3.8%
2019
2.4%
2019
Government expenditure, % of GDP
46.1%
2024
18.7%
2024
Consumer prices inflation
1.4%
2023-2024
3.3%
2023-2024
Central bank interest rate n/a
9.75%
2024
Unemployment rate
4.56%
2019
3.42%
2021
Population
532057
53170946

Spending and national debt comparison by year

Maldives
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Maldives Uganda
Government spending Government debt Government spending Government debt
2024 46.1% 133.3% 18.7% 51.5%
2023 46.7% 122.4% 19.3% 50.5%
2022 42% 111.6% 19.5% 50.2%
2021 40.6% 123.4% 22% 50.3%
2020 50.4% 155.7% 21.4% 46.3%
2019 32.9% 77.2% 18.3% 37.5%
2018 31.9% 70.7% 16.2% 34.9%
2017 30.4% 63.8% 16.3% 33.6%
2016 37.3% 61.9% 15.2% 31.3%
2015 33.8% 54.8% 14.9% 28%
2014 29.1% 55.1% 13.6% 24.8%
2013 27% 55.9% 13.3% 22.1%
2012 29.8% 57.1% 13.1% 19.5%
2011 31.3% 51.9% 13.2% 18%
2010 33.2% 52.7% 15.4% 18.4%
2009 37% 48.4% 11.8% 14.8%
2008 35.6% 39% 12.9% 15.7%
2007 34.8% 35.8% 13.2% 17%
2006 35% 36.8% 13.7% 27.8%
2005 38.8% 43.2% 14.5% 42.6%
2004 24.1% 34.7% 15.6% 49%
2003 26.4% 37.6% 16.5% 55.1%
2002 29.6% 44.3% 16.8% 54.7%
2001 29.6% 41.8% 16.2% 51.4%
2000 29% 39% 15.2% 48.5%
1999 28% 38.9% 14.7% 47.7%
1998 25.9% 39.3% 14% 45.1%
1997 25.2% 38.1% 13.9% 44.2%
1996 27.3% 46.9% - -
1995 31.3% 52.2% - -
1994 30.7% 54.6% - -
1993 34.7% 55.7% - -
1992 36.1% 49% - -
1991 37.7% 46.7% - -
1990 33.3% 42.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20).

GeoRank.org/economy/maldives/uganda | CC BY

In 2024, Maldives' government spending was $3.25B, accounting for 46.1% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 133.3% in Maldives and 51.5% in Uganda, ranking 10/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Maldives

Uganda
1x
Year Deficit/surplus, % of GDP
Maldives Uganda
2024 -13.9% -3.99%
2023 -13.2% -4.87%
2022 -11.2% -5.45%
2021 -14.2% -7.76%
2020 -23.7% -7.76%
2019 -6.54% -4.82%
2018 -5.17% -3.02%
2017 -3.02% -3.83%
2016 -9.93% -2.64%
2015 -6.52% -2.59%
2014 -2.42% -2.74%
2013 -3.49% -3.19%
2012 -6.91% -2.39%
2011 -8.13% -2.04%
2010 -13.6% -4.64%
2009 -17.9% -1.61%
2008 -9.92% -1.99%
2007 -3.16% -0.82%
2006 -4.52% -0.64%
2005 -7.81% -0.17%
2004 -2.26% 0.34%
2003 -3.45% -0.97%
2002 -3.97% -2.07%
2001 -3.97% -0.99%
2000 -3.89% -0.62%
1999 -3.03% -1.24%
1998 -2.25% -0.7%
1997 -1.46% -0.83%
1996 -2.01% -
1995 -5.66% -
1994 -4.82% -
1993 -13.9% -
1992 -12.6% -
1991 -10.2% -
1990 -12.8% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/maldives/uganda | CC BY

In 2024, Maldives' government deficit, the difference between spending and revenue, was $982M, equivalent to 13.9% of GDP. This compares to Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, Maldives recorded a fiscal deficit in 28 of those years, while Uganda ran a deficit in 27 years. On average, Maldives posted an annual deficit equal to 7.48% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Maldives

Uganda
1x
Year Consumer prices inflation
Maldives Uganda
2024 1.4% 3.3%
2023 2.6% 5.4%
2022 2.6% 7.2%
2021 0.2% 2.2%
2020 -1.6% 2.8%
2019 1.3% 2.1%
2018 1.4% 2.5%
2017 2.3% 5.6%
2016 0.8% 5.2%
2015 1.4% 3.7%
2014 2.4% 4.3%
2013 4% 5.5%
2012 10.9% 14%
2011 11.3% 18.7%
2010 6.1% 4%
2009 4.5% 13%
2008 12% 12%
2007 6.8% 6.1%
2006 3.5% 7.2%
2005 2.5% 8.6%
2004 6.3% 3.7%
2003 -2.8% 8.7%
2002 0.9% -0.3%
2001 0.7% 1.9%
2000 -1.2% 3.4%
1999 3% 5.8%
1998 -1.4% 5.8%
1997 7.6% 7.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/maldives/uganda | CC BY

Over the past 28 years, Maldives has recorded an average annual inflation rate of 3.2%, compared with 6.08% in Uganda. In 2024, inflation was 1.4% in Maldives and 3.3% in Uganda.

Top exports between countries

Maldives
Export category Export value
Uganda
Export category Export value
Raw agricultural goods $604K
Machinery & equipment $67K

Balance of trade

Maldives Uganda
Current account balance
-$1.32B
2024
-$4.29B
2024
Current account balance ranking
130/190
2024
164/190
2024
Current account balance, % of GDP
-18.7%
2024
-7.96%
2024
Goods imports
$3.46B
2024
$11.7B
2024
Goods exports
$383M
2024
$8.67B
2024
Service imports
$1.89B
2024
$4.38B
2024
Service exports
$5.03B
2024
$2.39B
2024
Imports of goods and services, % of GDP
78.3%
2024
25.9%
2024
Exports of goods and services, % of GDP
78.2%
2024
16.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Maldives Uganda
Economic freedom 47.6 52.4
Economic freedom ranking 174/197 149/197
Property rights 52.2 42.2
Government integrity 41.9 25.1
Judicial effectiveness 39.3 29.4
Tax burden 89.9 73.4
Government spending 39.5 89
Fiscal health 0 58.3
Business freedom 49.7 50.2
Labor freedom 54.1 55.9
Monetary freedom 76.4 77.1
Trade freedom 62.8 58
Investment freedom 35 30
Financial freedom 30 40

Economic freedom comparison by year

Maldives
Uganda
1x
Year Economic freedom index
Maldives Uganda
2026 47.6 52.4
2025 48.3 51.3
2024 47.8 50.7
2023 46.6 51.4
2022 47.3 54.2
2021 55.2 58.6
2020 56.5 59.5
2019 53.2 59.7
2018 51.1 62
2017 50.3 60.9
2016 53.9 59.3
2015 53.4 59.7
2014 51 59.9
2013 49 61.1
2012 49.2 61.9
2011 48.3 61.7
2010 49 62.2
2009 51.3 63.5
2008 - 63.8
2007 - 63.1
2006 - 63.9
2005 - 62.9
2004 - 64.1
2003 - 60.1
2002 - 61
2001 - 60.4
2000 - 58.2
1999 - 64.8
1998 - 64.7
1997 - 66.6
1996 - 66.2
1995 - 62.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/maldives/uganda | CC BY

The Economic Freedom Index for Maldives is 47.6, ranking 174/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Maldives Uganda
Services, % of GDP
72.1%
2024
43.1%
2024
Industry, % of GDP
9.2%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
3.84%
2024
24.6%
2024
GNI, Atlas method
$6.15B
2024
$50.9B
2024
GNI per capita, PPP
$23,400
2024
$3,190
2024
Total reserves including gold
$674M
2024
$3.36B
2018
Total reserves ranking
150/177
2024
114/177
2018
Net foreign direct investment
-$806M
2024
-$3.26B
2024
Net inflows of foreign direct investment
$806M
2024
$3.26B
2024
Net outflows of foreign direct investment
$0
2024
$400K
2024
Servicing debt to the IMF, % of GNI
7.95%
2024
2.96%
2024
Poverty at national poverty lines
15%
2020
20.3%
2019
Gross capital formation, % of GDP
30.8%
2024
22.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/maldives/uganda | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.